HAMILTON, BERMUDA–(Marketwired – Jan. 3, 2017) – Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO), has declared the following distributions for the period from November 15, 2016 to February 14, 2017:
|Units||Amount||Record Date||Payment Date||Payment Type|
|Series A Preferred Units||$0.4531 per unit||February 8, 2017||February 15, 2017||Cash|
|Series B Preferred Units||$0.5313 per unit||February 8, 2017||February 15, 2017||Cash|
|Series C-1 Preferred Units||$0.5149 per unit||February 8, 2017||February 15, 2017||New common units|
|Series D Preferred Units||$0.6563 per unit||February 8, 2017||February 15, 2017||New common units|
About Teekay Offshore
Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the oil industry, primarily focusing on oil production-related activities of its customers and operating in offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $5.7 billion, comprised of 64 offshore assets, including shuttle tankers, floating production, storage and offloading (FPSO) units, floating storage and offtake (FSO) units, units for maintenance and safety (UMS), long-distance towing and offshore installation vessels and conventional tankers. The majority of Teekay Offshore’s fleet is employed on medium-term, stable contracts.
Teekay Offshore Partners’ common units and Series A and B preferred units trade on the New York Stock Exchange under the symbol “TOO”, “TOO PR A” and “TOO PR B”, respectively.